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The US Dollar rebound against the Swiss Franc has paused to consolidate after prices found support above the 0.87 figure. Near-term resistance is at 0.8839, the 38.2% Fibonacci expansion, with a break above that targeting 50% level at 0.8869. Alternatively, a turn back below the 23.6% Fib at 0.8802 exposes the April 11 lowat 0.8742.

Prices are trading too close to relevant resistance to make a long trade attractive from a risk/reward perspective. On the other hand, the absence of a bearish reversal signal argues against taking up the short side. We will continue to stand aside for now, waiting for an actionable opportunity to present itself.

Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.

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